During the week ending July 17, cold rolled coil (CRC) prices in the Chinese domestic market have fluctuated in an upward direction. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
Local traders have been testing the domestic CRC market with higher offers. Even though transaction activity has slowed down, traders do not want to surrender to customers in price negotiations. As steel mills have successively hiked their list prices for August, expectations for further rises in the market have become somewhat more widespread. Meanwhile, some specifications are now unavailable in traders' stocks. Overall, however, supply in the market is still generally on the high side.
In the coming week, it is expected that Chinese domestic cold rolled coil prices will trend more or less sideways.